Toyota, Honda double profit outlook as China rebounds from pandemic

受益于中国疫情后复苏，丰田、本田预计利润将翻倍

Japan's two biggest car manufacturers, Toyota Motor and Honda Motor on Friday more than doubled their operating profit forecasts, helped by recovering demand in China as it rebounds from the coronavirus pandemic.

受益于中国疫情后经济复苏带来的需求增长，日本两大车企丰田及本田周五都预计其运营利润将翻倍

While China’s trade friction and worsening ties with the United States put pressure on Japanese companies to pull back from doing business there, China’s rapid economic rebound could instead, deepen corporate Japan’s dependence on the world’s No. 2 economy, say analysts.

分析师称，虽然中美间的贸易摩擦和关系恶化给日企在中国经营带来了一定压力，但中国疫情后的经济强劲复苏反而加深了日本企业对世界第二大经济中国的依赖度。

Although still weaker than last year, auto sales in the world’s biggest auto market have grown for six straight months, jumping 12.8 percent in September.

中国是全球最大的汽车市场，虽然目前需求和去年相比仍然偏低，但中国车市已经连续保持了6个月的增长，其中9月份增长了12.8%。

China’s overall economic recovery has also accelerated, expanding by 4.9% in the July-September quarter, compared with 3.2 percent in the previous three months.

中国整体经济复苏还在加速，三季度经济增速达到了4.9%，较前一季度3.2%的增速更高了。

Toyota has seen demand in China increase for its electric cars and Lexus luxury brand, while Honda said it has benefited from demand there for models such as its Vezel subcompact crossover sports utility.

中国市场对丰田电动车和高端雷克萨斯品牌的需求在增加，而本田则受益于缤智等小型SUV车型的热销。

Helped by that and following an improvement in quarterly earnings from the previous three months, Toyota said it now expects an operating profit of 1.3 trillion yen ($12.6 billion) for the year through March, 2021, up from the 500 billion it predicted previously. Operating profit for the previous financial year was 2.47 trillion yen.

除此之外，丰田上季度的营收状况也有明显改善，因此其预计本财年（20年4月-21年3月）的运营利润将达到1.3万亿日圆（约830亿人民币），较此前预计的5000亿日圆（320亿人民币）增长了不少。而上一个财年丰田的运营利润为2.47亿日圆（1579亿人民币）

That topped the 1.25 trillion yen average estimate for full-year profit from 26 analysts polled by Refinitiv.

这也超出了一家分析机构26名分析师给出的平均1.25万亿日圆的预期。

“If you compare our second quarter with the first you can see a dramatic recovery,” Toyota’s Operating Officer Kenta Kon said during an online press briefing after Japan’s biggest carmaker released its results.

丰田运营官在发布财务数据后的一场线上发布会上称：“如果将我们本财年2季度数据和1季度的相比，可以看到明显的复苏。”

The maker of the RAV4 sports utility vehicle (SUV) crossover and the Prius gasoline hybrid now expects to sell 9.42 million cars worldwide this year - up 3.5% from a previous forecast of 9.1 million, although still below 10.46 million sold last year.

生产出RAV4 SUV和普锐斯混合动力车的丰田公司预计今年将销售942万辆汽车，较此前预期的930万辆有所增加，不过还是比去年同期1046万辆的销量还是要低。

Honda now expects full-year operating profit of 420 billion yen compared with an earlier prediction for 200 billion yen.

本田则预计全年运营利润达到4200亿日圆（约269亿人民币），与此前预期的2000亿日圆（约128亿人民币）明显增长。

A need to win more business in China’s automarket is also driving model design and technology research at automakers in Japan and elsewhere, including an accelerating shift to electrical cars as China moves to carbon neutrality by 2060.

为了在中国汽车市场赢得更多业务，日本和其它国家的车企都加大了新车型的开发和技术研究。中国为了在2060年实现碳排放中和目标，也使得它们加快转向了电动车业务。

A senior Toyota executive in China said in September that annual global sales of electrified vehicles could reach 5.5 million in 2025, five years earlier than initially planned.

丰田在中国的一位资深总裁9月份曾说过其在全球的电动车销量预计在2025年达到550万，这一目标较此前计划提前了5年。

Honda wants two-thirds of its production to be new-energy vehicles by 2030, a shift in strategy that prompted it last month to end its participation as an engine supplier in the FIA Formula One World Championship.

本田则计划在2030年时实现新能源汽车占到总产能三分之二的目标，这一战略变化也使其上个月时停止了向F1赛事提供发动机的业务。

Nissan Motor Co last month said it would launch a slew of new vehicles in China over the next five years including electrical cars, as it draws back from the global expansion pushed by ousted chairman Carlos Ghost.

日产公司上个月则宣布未来五年其将在中国市场推出包括电动车型在内的大量新车型，而不是像前总裁卡洛斯计划的那样在全球扩张业务。

Nissan reports its second quarter results on Thursday.

日产将在本周四公布季度财务数据。

Although more optimistic about their outlooks, both Toyota and Honda cautioned about the risk still posed by the ongoing coronavirus pandemic as infection rates rise in the United States and elsewhere.

虽然对未来的预期较之前有所改善，但丰田和本田考虑到疫情仍在持续且美国及其它地区的感染率仍在不断攀升，仍持谨慎态度。

“The surge in coronavirus cases is a concern, particularly in Europe,” Honda’s Executive Vice President Seiji Kuraishi said during an online press briefing.

“新增病例数量激增是一大问题，尤其是在欧洲。”本田高级副总裁仓石诚司在线上发布会上称。

That sentiment is also shared by some investors.

一些投资者也持相同看法。

“Given the yen’s appreciation (versus the dollar) and a resurgence of the coronavirus, we have to consider the profit forecast revision cautiously,” said Kazuo Kamiya, a fund manager at Nomura Securities.

野村证券基金经理神谷一夫认为：“考虑到日圆对美元汇率上升，且感染人数重新上扬，我们对修正预计盈利金额需要更谨慎。”

A strong yen reduces the value of sales booked in the United States.

日圆的升值也导致了日企在美国销售的下滑。